SWsoft Adds Chief Financial Officer
| Leading Server Automation and Virtualization Software Company Adds Seasoned Industry Veteran to Help Manage Rapid Global Growth
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HERNDON, Va. March 6, 2005 SWsoft today announced 30-year finance and accounting veteran Ralph Alexander as its chief financial officer. He joins a proven leadership team that has experience working for Microsoft, IBM and Veritas, as well as several successful smaller companies.
Alexander joins the company after serving as CFO for Number Six Software. Previously, he was with Blueprint Technologies, Landmark Systems Corporation and Rational Software -- companies in the information technology (IT), biotechnology and government contracting sectors. At Rational Software, Alexander helped take the company public, leading to its later multi-billion dollar acquisition by IBM in December 2002.
Last year, privately-held SWsoft revenues increased more than 160 percent. The company expanded office locations, doubled headcount globally to more than 600 employees, and most significantly, experienced wide customer acceptance of its products, especially its virtualization technology offering, Virtuozzo.
The markets where SWsoft continues to increase its position are experiencing rapid growth, with the virtualization market growing to $15 billion worldwide by 2009 (according to industry analyst firm, IDC).
"The combination of SWsofts superior technology and roadmap with Ralph's industry knowledge and financial leadership positions us well for accomplishing our next set of strategic milestones in market share and corporate growth, said Serguei Beloussov, CEO, SWsoft.
SWsoft has quickly become a recognized leader in hosting, virtualization and automation, said Alexander. The company has a phenomenal track record of sustained triple-digit growth year-over-year, and I'm excited to help take the business to the next stage financially.
Alexander received a B.S. in Management and Accounting from the University of Baltimore and an M.S. in Finance from Loyola College.
Last year, SWsoft also had its first institutional round of investment capital from Insight Venture Partners, Bessemer Venture Partners and Intel Capital.
"SWsoft was one of the few VC-backed companies weve known to consistently exceed its aggressive performance targets, said Mike Triplett, Managing Director, Insight Venture Partners. The company continues to reap the benefits of its leadership in the under-the-radar but highly-profitable service provider market, and its move into enterprise server virtualization came just as that market truly began to heat up.
About SWsoft
SWsoft is a recognized leader in server virtualization and automation software. With more than 10,000 customers in over 100 countries, SWsoft's suite of products delivers proven performance, reliability, manageability and value. With offices around the world, SWsoft is a high growth company funded by Bessemer Venture Partners, Insight Venture Partners and Intel Capital. For more information about SWsoft, visit www.swsoft.com.
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